- While every day more exchanges announce a wave of layoffs to face the recent crypto crisis, Binance.
- During the Consensus 2022 Conference, Binance CEO Changpeng Zhao stated that the firm will remain committed to the industry and does not plan to reduce its working group, even thinking of continuing to expand it.
- Binance, unlike other exchanges, did not spend much on ads or expensive partnerships, so it has enough funds to face the winter.
Warning that the crypto world is in crisis is nothing new. For weeks now, digital assets have been in a clear fall and nobody knows how far it will go back. Its loss of purchasing power not only made the pockets of small investors thin, but also of the big fish in the market.
When Latin American exchanges goodbit and Bitso announced that they cut part of their staff to face the recent market crisis, those of the US exchanges Coinbase, BitMex, Robinhood and Gemini.
The last to announce his series of layoffs was Crypto.com. who announced through its CEO, Kris Marszalek, that the company will let go of 260 people, which is equivalent to 5% of its staff. It does this to stay within the roadmap outlined by the company and optimize profitability.
“We will continue to evaluate how to best optimize our resources to position ourselves as the strongest builders during the down cycle to become the biggest winners during the next bull run.”, the authority wrote.
Within hours of Crypto.com’s publication, came the Blockfi. The cryptocurrency lending platform It will leave 20% of its staff out of work to be able to cope with this difficult time. That supposes the dismissal of 170 employees.
“Our No. 1 goal has been to achieve profitability so we can own our destiny as we navigate what many expect to be a prolonged global recession.”“, they described as reproduced CryptoSlate.
Knowing it will let senior professionals go, BlockFi has vowed to connect those laid off with partners who are interested in recruiting. He does not rule out, once this painful situation is overcome, rehiring many of those who had to be released.
Binance announces hiring
Contrary to the rest of the industry, Binancethe largest cryptocurrency exchange in the world, with a daily volume of more than $30 billion, He announced that he will maintain his commitment to the industry and does not intend to reduce his work group. He even thinks about continuing to expand it.
Binance CEO Changpeng Zhao during the Consensus 2022 Conference assured:
“We have a very healthy war chest, in fact we are expanding hiring right now. If we find ourselves in a crypto winter, we will take advantage of it, we will use it to the fullest. We’re giving a big boost to M&A activity“.
Binance, to Unlike Crypto.com, which spent $1.5 billion, didn’t spend much on ads or expensive partnershipsthat’s why he has enough funds to face the winter.
“During bull markets, everyone is starting their own projects, everyone is paying everyone ridiculous compensationZhao explained in reference to the investments of some of his competitors.
Winter does not scare Binance, who claims to be warm. The strong winds of June have already swept away several greats who remained exclusively promises.
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